CBSE 2025, Compartment, Set 1

Question

From the following information, prepare a Comparative Statement of Profit and Loss for the year ended 31st March, 2023 and 2024:
| Particulars | 2023-24 (₹) | 2022-23 (₹) |
|---|---|---|
| Revenue from operations | 50,00,000 | 40,00,000 |
| Employee benefit expenses | 7,50,000 | 5,00,000 |
| Other expenses | 27,50,000 | 20,00,000 |
| Tax Rate | 50% | 50% |

Edvaya · Accepted Answer

The correct answer is Subjective. **Comparative Statement of Profit and Loss for the years ended 31st March, 2023 and 2024** | Particulars | 2022-23 (₹) | 2023-24 (₹) | Absolute increase or decrease (₹) | Percentage increase or decrease (%) | |---|---|---|---|---| | **I. Revenue from Operations** | 40,00,000 | 50,00,000 | 10,00,000 | 25.0 | | **II. Less: Expenses** | | | | | | Employee benefit expenses | 5,00,000 | 7,50,000 | 2,50,000 | 50.0 | | Other Expenses | 20,00,000 | 27,50,000 | 7,50,000 | 37.5 | | *Total expenses* | *25,00,000* | *35,00,000* | *10,00,000* | *40.0* | | **III. Profit before tax (I - II)** | **15,00,000** | **15,00,000** | **Nil** | **Nil** | | IV. Less: Tax @ 50% | 7,50,000 | 7,50,000 | Nil | Nil | | **V. Profit after tax** | **7,50,000** | **7,50,000** | **Nil** | **Nil** |

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Particulars	2023-24 (₹)	2022-23 (₹)
Revenue from operations	50,00,000	40,00,000
Employee benefit expenses	7,50,000	5,00,000
Other expenses	27,50,000	20,00,000
Tax Rate	50%	50%